ENEL, FUTUR-E: SALE OF THE PORTO MARGHERA SITE COMPLETED

The Giuseppe Volpi power station and the entire surrounding area of about 10 hectares have been sold to three industrial counterparties: Porto Invest Srl, Simic SpA and CITI Srl.

Rome, November 2nd, 2015  The sale of Enel's Porto Marghera site has been completed. The coal-fired Giuseppe Volpi thermal power station, which has been largely inactive for the past three years, has been sold together with the surrounding area, to three parties already operating in the port logistics, structural metalworking and plant engineering industries: Porto Invest Srl, Simic SpA and CITI Srl.

This is the first plant that Enel has disposed of within the Futur-e project, which envisages the redevelopment of 23 thermoelectric plants, many of which are no longer operational.

In operation until 2012, the Giuseppe Volpi plant, with a capacity of 140 MW on a site covering about 10 hectares, had been reducing generation activities in response to the progressive decline in national electricity demand: in 2013 and in 2014 it was never called into service.

Two of the three buyers (CITI and Simic) will develop new industrial facilities on the site, while the third (Porto Invest) will expand the logistics operations that it already carries out nearby, operating directly and through associated companies. The investments associated with these initiatives have will a major positive impact on economic activity and employment in the Porto Marghera area, both in the construction phase and in the operation of the new industrial activities.

Enels Project Futur-e sees the company involved in rolling out a new industrial approach, based on leveraging and redeveloping less efficient plants, some of which have not operated in many years, even as a capacity reserve. They are plants that could not return to generation even if the demand for electricity was to revive: the power stations (or parts thereof) have reached or nearly reached the end of their life cycle.

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